Overview
- Nvidia will invest up to $2.1 billion in IREN as part of a plan to deploy as much as 5 gigawatts of AI infrastructure.
- The agreement gives Nvidia a five‑year right to buy up to 30 million IREN shares at an exercise price of $70 each.
- Future buildouts will center on IREN’s Sweetwater campus in Texas, a 2‑gigawatt site where the first 1.4 gigawatts are now online.
- IREN is accelerating its pivot into full‑stack AI cloud services with a $625 million all‑stock deal to acquire Mirantis and its Kubernetes platform.
- Revenue growth hinges on a reported $9.7 billion Microsoft cloud arrangement and the Childress agreement, which management says averages about $1.94 billion a year and is backed by roughly $3.6 billion in GPU financing at sub‑6%.